Gold Bulls On The Losing Side Again?

The last time we wrote about gold was February 17th in an article, called “Gold Bears Ready For The Last Fight”. The yellow metal was trading around $1220, while we were expecting the decline to continue. The chart below shows what the Elliott Wave Principle was suggesting almost two months ago. As visible, we were…

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Palladium Fulfilling The Bears’ Desires

“The bulls must be careful, because a reversal to the downside is likely to occur. A reversal, which could be the beginning of a larger move to the south with the potential to lead prices below $730.” That is what we wrote about palladium on March 9th in “Fibonacci To Force Palladium Down”. Our bearishness was based…

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Fibonacci To Force Palladium Down?

Palladium had some very successful weeks recently, climbing up to above $830. Last week the precious metal fell by 20$, but it seems this was just another buying opportunity for the bulls. How high should palladium be expected to go? Are the bears going to return soon? Let’s take a look at the chart below,…

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Gold Bears Ready For The Last Fight?

On November 6th, 2014, we published “Gold With More Than One Option”, where there were two charts. Both of them were showing, that after $1131, we should expect a recovery. One of the wave counts suggested for a larger advance, probably towards $1250. A reminder of that analysis is given below. Gold was expected to…

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Gold Heading to $1160 Next Week?

The price of gold went close to $1240 in the middle of December, but the bulls have not been that strong ever since. On Friday the precious metal fell to $1167 but bounced up sharply to close the day at $1188. In order to find out where gold is likely to be heading next, we will…

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Silver Prices Still Going South?

Despite silver’s strong 3-dollar recovery from 14.30 to 17.30, the bulls were unable to keep the momentum. As a consequence, the price of silver went down to the 15.50 mark again. The most important thing is the wave structure of this decline. As the chart below demonstrates, it is a five-wave impulse. Note that the…

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Palladium With Two Bearish Counts

In our previous forecast of palladium we suggested, that the precious metal is probably in the middle of an A-B-C zig-zag correction to the upside. We thought so, because there was a complete five-wave decline before that. The Elliott Wave Principle states, that every five-wave sequence is followed by a three-wave correction in the opposite direction. On…

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It Took Silver Only Ten Days

“This recovery could be limited under the $17 mark… We should not be surprised by price of silver below $15.” It was November 21st , when we made this forecast about silver, titled “Price of Silver: Upside Could Be Limited”. Ten days ago we pointed out, that the wave structure of silver’s recovery seems to be corrective. The chart…

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1210 To Discourage Gold Bulls?

More than two weeks ago, on November 6th, we published an article, called “Gold With More Than One Option”. In this material we gave you two alternative counts of gold, both of which suggested for a corrective recovery. The only difference between the two scenarios was in the depth of the anticipated retracement. Here we…

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Silver: Mission Accomplished. Now What?

“We should not be surprised by prices around 16.00… maybe even lower.” This is the last sentence of an article, called “One Last Breath for Silver”, which we published on July 12th, 2014. When we made that forecast silver was trading slightly above 21.40. So, four months ago we were expecting a decline of at least…

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Gold With More Than One Option

In the Market nothing is static. Everything is constantly changing. Traders can never be certain about the future. That is why they should always be prepared for more than one scenario. More than four months ago, on July 3rd, 2014, we published “Gold, 1100 visible in the long term”, which showed you our big picture…

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Gold took out 1180. Should you sell now?

“If this is the correct count, the support zone around 1180 may finally surrender… for a while.” We said that more than two weeks ago, on October 14th, when we showed you our primary forecast of gold. In “Is Another Decline Coming for Gold?” we were expecting the completion of wave (4) to the upside and…

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Price of Gold Still Locked In a Triangle?

In the Market there are no guarantees, only probabilities. That is why traders must always look and prepare for different scenarios. If you have been following our Precious Metals section, you have probably seen some of our articles about the triangle the price of gold was forming. The Elliott Wave Principle states, that triangles are sideways…

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Is Another Decline Coming for Gold?

Gold prices managed to recover by almost $60 from the bottom of 1183 to 1238 so far. Are the bears surrendering or just regrouping? In our previous analysis of gold we mentioned about our expectations of the yellow metal rising back to the 1230 area, after having bottomed at 1183 the week before. We supported…

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Palladium with an Extended Fifth Wave?

Palladium bounced up sharply from the bottom at 735 and is currently trading above 800. This renewed bull’s strength comes after a decline of nearly 200 figures, that started from the highs of 912. What should traders expect from now on? Palladium, as any other widely traded instrument, obeys the laws of collective market psychology,…

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